Hsino Tower Group Co., Ltd.

On the evening of September 28, HongSheng HuaYuan announced that Chairman Ma Xinzheng had submitted his resignation as chairman, director, and chairman of the board's strategy committee due to work adjustments. He also ceased to serve as the company's legal representative and will not hold any position in the company or its controlled subsidiaries after leaving. The announcement showed that Ma Xinzheng's resignation took effect upon delivery to the board, and that the resignation would not reduce the number of board members below the statutory minimum, would not affect the board's daily operations, and that the company would proceed with by-elections for directors and the election of a new chairman in accordance with statutory procedures. Ma Xinzheng's original term was set to run until June 19, 2027, making this departure roughly nine months earlier than planned. As of the announcement date, he held no shares in HongSheng HuaYuan and had no outstanding public commitments yet to be fulfilled. Ma Xinzheng was elected chairman of HongSheng HuaYuan on September 24, 2025, serving just over one year. His predecessor, Zhao Qi, resigned as chairman in August 2025 due to work adjustments, and this latest departure continues a series of management changes at the company over the past year. HongSheng HuaYuan is a leading central state-owned enterprise in China's transmission line tower sector. It listed on the main board of the Shanghai Stock Exchange on December 22, 2023. In 2025, it achieved operating revenue of 9.575 billion yuan and net profit attributable to the parent of 371 million yuan, up 61.28 percent year on year. In the first half of 2026, it achieved operating revenue of 4.886 billion yuan and net profit attributable to the parent of 184 million yuan.

Hongsheng Huayuan released its 2026 interim report, with net profit attributable to the parent company of 184 million yuan, a decrease of 7.43% compared with the same period last year. The company's total operating revenue was 4.886 billion yuan, down 0.40% year-on-year; net cash flow from operating activities was negative 203 million yuan, down 222.41% year-on-year. The company's latest asset-liability ratio was 48.75%, gross margin was 11.72%, ROE was 3.84%, and diluted earnings per share was 0.07 yuan.

Hong Sheng Hua Yuan announced that shareholder Guo Xin Jian Yuan Equity Investment Fund and CCB Financial Asset Investment, acting in concert, plan to sell up to 26.7516 million shares through centralized bidding between August 17 and November 16, 2026, representing 1% of total share capital. Previously, from March 20 to June 19, 2026, Guo Xin Jian Yuan had already sold 20.0636 million shares, cashing out approximately 108 million yuan, while CCB Investment sold 545,100 shares for about 3.3 million yuan. The company recently won preliminary bids for 32 State Grid packages worth around 745 million yuan, accounting for roughly 7.78% of its 2025 audited revenue. In 2025, net profit attributable to the parent was 371 million yuan, up 61.28% year-on-year, and overseas revenue reached 725 million yuan, surging 96.44%. As of the midday break on July 24, the stock traded at 4.10 yuan, down 6.18%, with a total market capitalization of 10.968 billion yuan. Based on this valuation, the planned share sale would cash out approximately 109 million yuan.